charles schwab and optionsXpress deal the companies value at about $1 billion.
Under the terms, shareholders in optionsXpress are to get 1.02 shares of Charles Schwab stock for each share of the Chicago-based options brokerage.
The agreement values optionsXpress at $17.91 a share, compared with the company’s closing price of $15.33 on Friday.
Stock in optionsXpress jumped more than 15% in the minutes after the market opened Monday morning.
“This combination of capabilities allows
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